Benton, Ark. — Legacy Realty Group Advisors has brokered the $9.3 million sale of Benton Commons, a 74,870-square-foot retail center located in Benton, roughly 25 miles southwest of Little Rock. Kroger anchors the property, and other tenants include State Farm Insurance, Sumo Express and H&R Block. Jacob Baruch, Jonah Warshaw and Daniel Baruch of Legacy represented the undisclosed buyer. Todd Rice of Colliers Arkansas represented the undisclosed seller.
Fayetteville, Ark. — Fast casual franchise Slim Chickens has signed a deal to expand into Southeast Michigan with 25 restaurants. Partners Brad DeLange, Todd DeLange and Doug Broadright will lead the restaurant’s Great Lakes division and bring the brand to locations in the Detroit and Ann Arbor metropolitan areas. Slim Chickens has opened more than 225 locations in the U.S. and the U.K. and has more than 1,100 restaurants in development.
Monticello, Ark. — Timber Development Corp. has purchased North Park Village Shopping Center, a 70,000-square-foot retail center located in Monticello. Todd Rice of Colliers brokered the $4.6 million transaction. The property, which is shadow anchored by Walmart Supercenter, was 75 percent leased at the time of sale.
Bentonville, Ark. — Sam’s Club, a division of Walmart Inc., plans to open more than 30 new locations across the United States over the next several years. The first store, which is planned for an undisclosed Florida city, is scheduled to open in 2024. The new clubs will span approximately 160,000 square feet, which is larger than most current locations. Most new stores will feature a seafood/sushi island, full-service floral shop and walk-in dairy and fresh coolers, as well as a larger healthcare space featuring a patient waiting area, health …
Nashville, Tenn. — Nashville-based Matthews Real Estate Investment Services has arranged the $16.1 million portfolio sale of eight stores leased to the combo Family Dollar-Dollar Tree discount retail concept. The stores are located in Blountsville and Clayton, Alabama; Pauls Valley, Warner and Maud, Oklahoma; Edison, Georgia; Lincoln, Arkansas; and Coldiron, Kentucky. Josh Bishop of Matthews represented the seller, an unnamed developer that built the stores. The undisclosed institutional buyer purchased the properties at a cap rate of 6.4 percent.
Little Rock, Ark. — Inland Private Capital Corp. (IPC) has sold Chenal Commons Shopping Center in Little Rock for $14.6 million. The 70,147-square-foot property is comprised of two buildings, which were fully leased at the time of sale to tenants including Petco, Shoe Carnival, Old Navy, Ulta Beauty, David’s Bridal, Great Clips, Kirkland’s Home and Elegant Nails and Spa. IPC sold the property on behalf of Chenal Commons DST, a 1031 investment program.
Russellville, Ark. — Mid-America Real Estate Corp. has arranged the sale of Valley Park Centre, a 282,608-square-foot shopping center located in the Arkansas River Valley community of Russellville. The property was 95 percent occupied at the time of sale by tenants including TJ Maxx, Ross Dress for Less, Belk, JC Penney, Shoe Carnival, Hibbett, Hobby Lobby, PetSmart and Five Below. Ben Wineman of Mid-America and Hank Kelley of Kelley Commercial Real Estate Partners represented the sellers, an affiliate of RCG Ventures and an undisclosed New York City-based joint venture partner, …
Bentonville, Ark. — Walmart Inc. (NYSE:WMT) posted growth in earnings during its fiscal third quarter of 2021, which ended Oct. 31. Walmart’s total revenue was $140.5 billion, an increase of 4.3 percent from a year earlier when it was $134.7 billion. These numbers were also higher than Wall Street’s predictions of $135.6 billion, according to CNBC. According to Refinitiv, the discount retailer’s earnings per share were $1.45 adjusted versus $1.40 expected. Additionally, Walmart’s e-commerce sales increased 8 percent during the fiscal third quarter and 87 percent over a two-year period. …
Bentonville, Ark. — Walmart, has released plans to hire approximately 150,000 new store associates, with most of the job positions being permanent and full-time. The Bentonville, Arkansas-based retailer wants to hire new employees ahead of the holiday season to ensure its stores are highly staffed for the predicted busy months. This July, the discount retailer announced its education program called Live Better U, in which it will invest approximately $1 billion over the next five years to pay for college tuition and books for its employees. Walmart also offers an …
Bentonville, Ark. — Bentonville, Arkansas-based Walmart Inc. (NYSE: WMT) has seen an increase in revenue during its fiscal second quarter of 2021, which ended on July 31. Walmart’s total revenue was $141 billion, an increase of 2.4 percent year-over-year. According to Refinitiv, the discount retailer’s earnings per share was $1.78 adjusted, while it was expected to be $1.57, and the company’s revenue was $141.05 billion, higher than the $137.17 billion expected. The retailer revised its 2021 forecast and is now predicting its earnings per share to range from $6.20 to …
